Millennium Management LLC Boosts Holdings in Stag Industrial, Inc. $STAG

Key Points

• Millennium Management LLC increased its stake in Stag Industrial, Inc. by 69.7%, acquiring 236,257 additional shares, bringing its total holdings to 575,217 shares valued at approximately $20.8 million.
• Stag Industrial reported a quarterly earnings of $0.63 per share, meeting analysts' expectations, with a revenue of $207.44 million reflecting a 9.4% year-over-year increase.
• The company recently declared a monthly dividend of $0.1242 per share, representing an annualized yield of 4.1% with a payout ratio of 117.32%.

Millennium Management LLC increased its position in Stag Industrial, Inc. (NYSE:STAG - Free Report) by 69.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 575,217 shares of the real estate investment trust's stock after acquiring an additional 236,257 shares during the quarter. Millennium Management LLC owned about 0.31% of Stag Industrial worth $20,777,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of STAG. Nuveen LLC purchased a new stake in Stag Industrial in the first quarter valued at approximately $129,972,000. Cbre Investment Management Listed Real Assets LLC raised its stake in shares of Stag Industrial by 152.1% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,938,350 shares of the real estate investment trust's stock worth $70,013,000 after acquiring an additional 1,169,533 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Stag Industrial by 442.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,364,411 shares of the real estate investment trust's stock worth $46,144,000 after acquiring an additional 1,112,757 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Stag Industrial during the fourth quarter worth approximately $15,446,000. Finally, Boston Trust Walden Corp raised its stake in shares of Stag Industrial by 17.5% during the first quarter. Boston Trust Walden Corp now owns 2,942,495 shares of the real estate investment trust's stock worth $106,283,000 after acquiring an additional 437,527 shares in the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Stag Industrial Stock Up 0.4%

Shares of STAG stock traded up $0.13 during mid-day trading on Thursday, reaching $35.51. 1,795,671 shares of the company's stock traded hands, compared to its average volume of 1,102,012. Stag Industrial, Inc. has a 12 month low of $28.61 and a 12 month high of $40.06. The company has a market cap of $6.63 billion, a P/E ratio of 27.96 and a beta of 0.94. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. The company's 50-day moving average price is $35.70 and its 200-day moving average price is $35.18.

Stag Industrial (NYSE:STAG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.63 EPS for the quarter, meeting analysts' consensus estimates of $0.63. Stag Industrial had a net margin of 29.14% and a return on equity of 6.71%. The firm had revenue of $207.44 million for the quarter, compared to analysts' expectations of $206.37 million. During the same quarter in the previous year, the business posted $0.61 EPS. The company's quarterly revenue was up 9.4% on a year-over-year basis. On average, equities analysts expect that Stag Industrial, Inc. will post 2.47 earnings per share for the current fiscal year.

Stag Industrial Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a $0.1242 dividend. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, August 29th. Stag Industrial's payout ratio is currently 117.32%.

Analyst Ratings Changes

Separately, Evercore ISI lifted their target price on shares of Stag Industrial from $40.00 to $41.00 and gave the stock an "outperform" rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $38.33.

Insider Activity

In other news, Director Benjamin S. Butcher sold 25,000 shares of Stag Industrial stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $36.91, for a total value of $922,750.00. Following the completion of the transaction, the director owned 7,562 shares of the company's stock, valued at $279,113.42. The trade was a 76.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

About Stag Industrial

STAG Industrial, Inc is a real estate investment company, which engages in acquiring, owning, and managing single-tenant, industrial real estate assets. It offers industrial real estate operating platform to real estate ownership. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.